418 Union, Warsaw, IN 46580-4279
Overview
| MLS ID: | #202405092 |
|---|---|
| Price: | $ 335,000 |
| Sq Ft: | 3,474 |
| Finished Sq Ft: | 3,474 |
| Lot Size: | 0.35 Acres |
| Year Built: | 1860 |
| Bedrooms: | 6 |
| Full Bathrooms: | 5 |
| Half Bathrooms: | |
| Taxes: | $ 3,900 |
Seize the chance to elevate your investment portfolio with this five-unit property boasting an impressive 12.45% CAP rate. This updated apartment building promises lucrative returns, long-term growth potential, and most importantly immediate cash flow, as all units are leased. The majority of the units have been refreshed and updated ensuring tenant satisfaction and maximizing rental appeal. Unit configurations vary, from a refreshed efficiency in Unit A to a spacious 1 bedroom (or a pass through 2 bedroom) in Units B & C. Unit D presents a large 2 bedroom (possible 3 bedroom) while Unit E has recently undergone extensive remodeling, featuring new paint, flooring, and a refreshed kitchen and bath. Explore additional revenue opportunities by incorporating coin-operated laundry facilities in the lobby. Even after considering vacancy, property management, and CapEx, investors can secure an impressive 19.6% cash on cash return, assuming traditional financing. For those seeking a broader investment strategy, this property is also available as part of a 14-unit, 3-property portfolio, priced at $960,000. with a remarkable 12.55% CAP rate and returns exceeding 20%. See MLS #202405089. Don’t miss out on this extraordinary opportunity to capitalize on strong returns and a thriving rental market. Schedule a viewing today and take the next step towards securing your financial future.
MLS ID: 202405092
Details
| # of Units | 5 |
|---|---|
| Price Per Unit | 67,000 |
| Above Grade Finished SF | 3,474 |
| Above Grade Unfinished SF | 1 |
| Combined Finished SF | 3,474 |
| Below Grade Finished SF | 886 |
| Below Grade Unfinished SF | 886 |
| Total Below Grade SF | 886 |
| Total Sq Ft | 4,360 |
| Lot Dimensions | 77X198 |
| Approx Lot Size SqFt | 15,246 |
| Approx Lot Size Acres | 0.350 |
| Garage SF | 2,916 |
|---|---|
| Garage # of Cars | 1 |
| Water Front | No |
|---|
| Style | Two Story |
|---|---|
| New Construction | No |
| Elementary School | Washington |
|---|---|
| Middle School | Edgewood |
| Senior | Warsaw |
| District | Warsaw Community |
| # Bedrooms | 6 |
|---|---|
| # of Full Baths | 5 |
| # of Half Baths | 0 |
| Living Room | 2 x 0 |
| Kitchen | 1083 x 1291 |
| Family Room | 1500 x 1717 |
| Bedroom 4 | 5 x 2 |
| Bedroom 5 | 5 x 4 |
| Laundry Room | 8 x |
| Other Room 1 | 1 x 2 |
| Other Room 2 | 1 x 6371 |
| Other Room 3 | 2 x |
| Annual Gross Rent Income | $76,452.00 |
|---|---|
| Annual Sewer Expense | $2,916.00 |
| Annual Fuel Expense | $1,008.48 |
| Annual Electric Expense | $2,659.80 |
| Annual Trash Expense | $948.00 |
| Annual Property Tax | $2,792.50 |
Map
Listing Office: RE/MAX Results- Warsaw
Listing Agent: James Bausch
Disclaimer:
Mortgage
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